The inflation rate drops to 10.3%
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Loading... - Noelle Clarke
- 06 Apr 2023
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The inflation rate fell to 10.3% after successive increases observed since October 2021, according to data published on Wednesday by the National Institute of Statistics (INS).
This slight decline, despite the monthly increase, is due to the deceleration in the pace of price increases between March and February of this year compared to last year.
Indeed, a decline was observed in the rate of increase in clothing prices (8.9% vs. 9.4% in February), transport service prices (11.4% vs. 12.1% in February) and the prices of alcoholic beverages and tobacco (4.1% against 5.6% in February).
In March 2023, food prices increased by 15.7% over one year. This increase is mainly due to the increase in the price of sheepmeat by 34.2%, eggs by 31.3%, poultry meat by 23.8%, edible oils by 23.7% and beef from 21.8%.
Over one year, the prices of manufactured products increased by 9.8% due to the rise in the price of building materials by 8.2%, clothing products by 8.9% and routine maintenance products of the household by 10.1%. For services, the price increase was 7.3% over one year, mainly explained by the rise in prices for restaurant, cafe and hotel services by 9.7% and public and private transport services by 16.1%.
The underlying inflation rate (excluding food products and energy) fell back to stand at 7.8% after 7.9% the previous month. The prices of free products (not supervised) increased by 11.2% over one year. The prices of framed products increased by 7.4%. Free food products increased by 18.5% against 0.6% for food products at regulated prices. Read More…
